Polaris Inc (PII Quick QuotePII - Free Report) shares rallied 5.7% in the last trading session to close at $129.48. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3% gain over the past four weeks.

The company’s plan to roll out its first green vehicle is fueling investors’ optimism. The motorcycle and all-terrain vehicle maker recently announced plans to launch all-electric RANGER by the year end, with deliveries anticipated to begin in early 2022. Additionally, the 2022 Polaris Snowmobile lineup—featuring 22 new models and built on the rider-first matryx platform— is grabbing massive attention of adventurers and investors alike, thereby boosting the share price of the firm.

Price and Consensus

This snowmobile and ATV maker is expected to post quarterly earnings of $1.52 per share in its upcoming report, which represents a year-over-year change of +590.9%. Revenues are expected to be $1.84 billion, up 30.7% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Polaris Inc, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PII going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>